BERLIN (MNI) – German Chancellor Angela Merkel said in a newspaper
interview published Sunday that the European Union should be able to
revoke the voting rights of member states that violate the deficit
limits set under the EU Growth and Stability Pact.
“As a last consequence it should be possible in the future to
temporarily revoke the voting rights from a country which does not
fulfill its commitments,” Merkel told German weekly Bild am Sonntag.
The Chancellor stressed that this was essential for Germany.
In a separate statement made on the sidelines of a conference in
Bonn today, Merkel called the budget consolidation program unveiled by
Greece on Sunday “very ambitious.”
Implementing this program is the only way to assure the stability
of the euro, she said.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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